Edita Food Industries - Summary of Resolutions of the Board of Directors Meeting of the company convened on Sunday dated 03/03/2024
Giza, 03/03/2024, Edita Food Industries S.A.E. ("the Company") announces that the Board of Directors Meeting of the Company convened on Sunday dated 03/03/2024 and unanimously resolved the following resolutions:
| 1) Approval of the minutes of the previous Board of Directors Meeting (No. 180) dated 05/11/2023. |
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2) Approval of the Company's balance sheet and profit and loss accounts and approved the Board of Directors' report for the Company's activities for the fiscal year ending on 31/12/2023 as well as the approval of the corporate governance annual report and the Auditor's report thereon to be submitted to the ordinary general assembly. |
| 3) Approval of the Auditor's report on the standalone and consolidated financial statements for the fiscal year ending on 31/12/2023 to be submitted to the ordinary general assembly. |
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4) Approval of the Company's standalone and consolidated financial statements for the fiscal year ending on 31/12/2023 to be submitted to the ordinary general assembly. |
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5) Approval of the distribution of dividends for the fiscal year ending on 31/12/2023, to be submitted to the ordinary general meeting, which comprises of: 1. distributing cash dividends for the fiscal year ending on 31/12/2023 on the shareholders in the amount of EGP 300 Million, by way of a coupon of 0.429 EGP for each share, to be presented to the ordinary general meeting for its approval. 2. Allocating an amount of EGP 140,002,731.2 from the retained earnings according to the financial statements of 31/12/2023 to be distributed by way of free shares. This is Subject to the Ordinary General Assembly approval on the profit distribution proposed by the Board of Directors in relation to the allocation of an amount of EGP 140,002,731.2to be distributed as free shares. The distribution of said shares shall be subject to undertaking the necessary procedures and approvals in accordance with EGX listing rules.
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6) Approval of calling for the Ordinary General Meeting to convene and delegating the Chairman of the company in determining the place and methodology of convening the meeting and amending the date of meeting, as the case may be, to consider the following agenda: 1. Approving the Board of Directors report on Company's activities for the fiscal year ending 31/12/2023, and approving the corporate governance annual report and the Auditor's report thereon; 2. Approving the auditor's report for the standalone and consolidated financial statements for the fiscal year ending 31/12/2023; 3. Approving the Company's standalone and consolidated financial statements for the fiscal year ending 31/12/2023; 4. Approving the proposed profit distribution, which comprises of a profit distribution for the fiscal year ending on 31/12/2023; 5. Discharging the members of the Board of Directors from their liabilities for the fiscal year ending 31/12/2023; 6. Electing the Board of Directors and specifying their capacities, and determining allowances and remuneration for the fiscal year ending 31/12/2024 and determining the signatory authorities and the spending limit of the Company; 7. Authorizing the Board of Directors in concluding related party contracts during the fiscal year ending 31/12/2024; 8. Approve the renewal of the Management Agreement with Eng. Hani Nabih Berzi; 9. Approve the related party agreements concluded by Edita Food Industries S.A.E Subsidiaries during the fiscal year ending 31/12/2023; 10. Authorizing the Board of Directors to grant donations during the fiscal year ending 31/12/2024, and approve the donations granted during the fiscal year ending 31/12/2023; and 11. Appointing the Company's auditor for the fiscal year ending 31/12/2024 and determining his remuneration.
7) The Board of Directors has been updated on the audit committee report.
8) The Board of Directors has been updated with the remuneration committee report.
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Contacts
Ms. Menna Shams El Din
Head of Investor Relations and Corporate Affairs
T: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg
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